Through the Indian Removal Act, Jackson pushed the natives further west, giving more land for Americans.
By closing down the National Bank, Jackson decentalized economic power.
As a Democrat, Jackson favored, represented, and promoted more political/economic opportunity and equality for white males.
Jackson affirmed the supremacy of national law by upholding the Supremacy Clause to take care of the nullification crisis.
Jackson was notorious for really taking care of his supporters with the spoils system.
The Whig Party was developed against the Democrats.
[ 10/29/10 ]
Capitalism in America
capitalism = an economic system in which the means of production (capital) are privately owned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies
"Capitalism is the progressive ideal, because it is the only social system that that leaves man free to pursue -- and achieve -- his own happiness. Capitalism is the ethical ideal, because it is the only social system that leaves man free to be moral -- to live by the use of his own mind. Capitalism is the objective ideal -- because it is the only system that is true, both in philosophical theory and in economic practice."
free-market, anarcho-capitalism, merchantilism, social market, state, corporate, and mixed
free-market is the main sense of capitalism
US does not have pure capitalism
capitalism: everyone wants money for themselves
capital = money and goods (machinery, resources)
controlled by private businesses - individuals + small groups, but NOT gov. ; communism = when means of production ARE controlled by gov.
capitalism is focused on who controls the capital ; it favors whoever is at the top (owners of businesses) -- class-based system
people who think they have a good change of success favor it, but people who are poor/untalented/unintelligent usually would rather prefer other economic systems that don't focus on who is at the top
INVISIBLE HAND
[ 11/2/10 ]
economy = big process
invisible hand = economy is self-regulated --> because everybody is trying to make $ and businesses are competing, everything is just taking care of itself while the capitalist economy runs smoothly
laissez faire ("let be"/"hands off") capitalism = theory of free-market capitalism that is NOT purely practiced in America
related to social darwinism - companies either succeed or die out --> survival of the fittest
US has mixed economy --> both socialism + capitalism ; gov. does play roles though programs like food stamps, unemployment benefits, social security, etc. & regulates business through rules/taxes
gov. doesn't intervene through gov. rules/regulations/taxes ; gov. prevents monopolies
US is sometimes called welfare capitalism
Elements of the Economy: - gov. : rules, regulations, taxes, welfare programs
- industries & businesses
- banks
- workers/unions
- consumers
- investors
- stock market
- schools and education
Economy is a system in which a group of people manage their resources after processing, distributing, and consuming goods, services, and currency.
KEY ELEMENTS OF JACKSONIAN AMERICA:
[ 10/29/10 ]
Capitalism in America
- capitalism = an economic system in which the means of production (capital) are privately owned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies
- "Capitalism is the progressive ideal, because it is the only social system that that leaves man free to pursue -- and achieve -- his own happiness.
- free-market, anarcho-capitalism, merchantilism, social market, state, corporate, and mixed
- free-market is the main sense of capitalism
- US does not have pure capitalism
- capitalism: everyone wants money for themselves
- capital = money and goods (machinery, resources)
- controlled by private businesses - individuals + small groups, but NOT gov. ; communism = when means of production ARE controlled by gov.
- capitalism is focused on who controls the capital ; it favors whoever is at the top (owners of businesses) -- class-based system
- people who think they have a good change of success favor it, but people who are poor/untalented/unintelligent usually would rather prefer other economic systems that don't focus on who is at the top
- INVISIBLE HAND
[ 11/2/10 ]Capitalism is the ethical ideal, because it is the only social system that leaves man free to be moral -- to live by the use of his own mind.
Capitalism is the objective ideal -- because it is the only system that is true, both in philosophical theory and in economic practice."
Elements of the Economy:
- gov. : rules, regulations, taxes, welfare programs
- industries & businesses
- banks
- workers/unions
- consumers
- investors
- stock market
- schools and education
Economy is a system in which a group of people manage their resources after processing, distributing, and consuming goods, services, and currency.